pitchandpolish-blog

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ENGEN Pitch & Polish Nurtures Talent in Newcastle

The Newcastle leg of the ninth annual ENGEN Pitch & Polish programme was held on Saturday, 1 September, the first time the event has been hosted in the city since inception. This national entrepreneurial workshop and competition – hosted in partnership with Engen Petroleum Ltd, Nedbank, Raizcorp and Caxton Local Media – has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.

“Engen Petroleum is committed to playing its part in helping to develop the economy of SA. One of the initiatives that we use as a vehicle to achieve this is the powerful ENGEN Pitch & Polish programme, as it aims to assist local communities transform their business ventures, with the potential to create jobs. This exposes entrepreneurs to enterprise development training and critical thinking skills that will help them grow their business ideas,” explains Thandi Ngxonga, Process Safety Specialist, from Engen Petroleum Ltd.

The day’s winning formula saw Justin Cohen (best-selling author and international speaker) motivating the crowd about the value of delivering a polished pitch. The workshop aims to teach participants about how to develop a well-rounded and investor-ready pitch. The interactive nature of the event ensures that everyone participates while learning at the same time. At each event, five contestants pitch their businesses while the facilitator and attendees offer guidance, advice and direction to help shape the pitches.

“This is where entrepreneurs are grown, and it is entrepreneurs who will grow this country, solve problems and create employment,” enthuses Cohen.

For example, through Charity Modise and her events business, the delegates learned that sometimes what entrepreneurs need is clients and not necessarily funding, and also how important it is to do research into your competitors and their offering and tools.

Sikhumbuzo Nkosi, with his labour law consultancy, presented a strong pitch. However, what he and the audience learned was that using a variety in pace and tone would help to make his pitch more impactful and easier to follow. There is credibility in sharing successes and achievements which demonstrate the consultancy’s strength.

Sharing one’s accreditations can also be a powerful tool, as seen in the pitch of NtombiNkosi, a geological consultant. You need to explain the differentiating factor in your business and be very specific about your finance model. It’s important to explain a complex industry in a way that makes sense to a potential investor.

The feedback that Zamaswazi Khulu received was to clearly explain her environmental consultancy business by defining its value. A business that offers a product or service that is in high demand yet has low supply is music to the ears of an investor, but you need to be sure to back up your claims with stats and facts.

The winning pitch was delivered by the wild card entry of the day (someone who is chosen by the audience). Riaz Kajee has a tech-focused courier business model and his pitch illustrated a clear business model and had a relatable story. His pitch reflected the learnings from the day and was well structured in its delivery.

This country needs entrepreneurs who get up every morning and grind, as it is through entrepreneurs that the economy will be buoyed. To pitch effectively, knowing your financials in detail is what will set you apart.

Insider tip: Paraphrase what the investor has said back to him or her as this shows that you have understood what they are saying and helps build a connection and rapport. Entrepreneurs are really pitching their purpose, and investors buy the ‘why’ you do what you do, the value and the benefits and not necessarily the ‘what’ or features of the product or service.

A fabulous nugget shared by one of the delegate was, “I need to begin to be big. I don’t need to be big to begin.”

As the 2018 winner of the Newcastle leg of ENGEN Pitch & Polish, Riaz Kajee won R6 000 and a week of training at Raizcorp in Johannesburg worth R150 000. He also has the opportunity to progress to the semi-final and become the ultimate 2018 ENGEN Pitch & Polish winner and receive further cash injections and other prizes.

Congratulations to everyone for attending, for taking action and for being the light that shines on the local entrepreneurial environment.

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Brilliance in Bloemfontein

The Bloemfontein leg of the ninth annual ENGEN Pitch & Polish programme was held on Saturday, 25 August with the over 270 delegates in attendance. Since its inception, this national entrepreneurial workshop and competition – which is hosted in partnership with Engen Petroleum Ltd, Nedbank, Raizcorp and Caxton Local Media – has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.

“Nedbank is proud to be associated with the ENGEN Pitch & Polish programme. The value of these sessions cannot be underestimated, as it is through these initiatives that we will create employment and influence the future of our beautiful country. Education doesn’t end at school or university but is there to be grabbed with both hands through events like this,” explains Kim Lawrence, Provincial Manager: Small Business and Professional Banking Nedbank Retail.

The day’s winning formula saw Yasmeen Alli, Learning Manager at Raizcorp, motivating the crowd with 12 tips on how to increase the probability of raising finance. The workshop aims to teach participants how to develop a well-rounded and investor-ready pitch. The interactive nature of the event ensures that everyone participates while learning at the same time. At each of this year’s events, five contestants will pitch their businesses while the facilitator and attendees will offer guidance, advice and direction to help shape the pitches.

For example, on Saturday, Bongani was selected as the wild card competitor of the day by the crowd because of his personable approach and excitement over his achaar sauce. Over the course of the day, he learned to define his target market more clearly and that “everyone” is never considered to be a target market. He also learned that to grow from a home-based business into a bigger going concern, his pitch will need to include specifics on production, marketing and financial projections.

Explaining one’s story can be a powerful tool and this was successfully incorporated into the pitch by Immaculate Thabisile Hlongwane who has a concrete business. Once she wove in her story, her pitch became more meaningful and purposeful. Your story is your truth. The audience connects to you through your story.

Malebogo (Floyd) has an interesting digital marketing business and had to learn to explain his core services in a clear and simple way – without jargon. If the investors are interested, their questions will provide the opportunity to explain the model in more depth. Instead, you should speak to your financial needs and current clients. Bringing in new business is a responsibility of all entrepreneurs.

The feedback Nthoana received for her pitch, as a construction and training consultant, was to bring in her credentials and explain her business offering with greater clarity.Sharing accomplishments, such as existing contracts, reflects credibility and is a crucial element in a pitch.

The winning pitch was delivered by Letshego, a partner in a sports apparel business. His pitch reflected the learnings from the day, and he delivered his pitch from a business perspective. It was methodical and clear. He showed that persistence and professionalism, coupled with a good product, opens doors. He wove in his team, accomplishments and was precise in his figures.

This country needs entrepreneurs who get up every morning and grind, as it is through entrepreneurs that the economy will be buoyed. In order to pitch effectively, knowing your financials in detail is what will set you apart.

As the 2018 winner of the Bloemfontein leg of ENGEN Pitch & Polish, Letshego Maelewon R6 000 and a week of training at Raizcorp in Johannesburg worth R150 000. He also has the opportunity to progress to the semi-final and become the ultimate 2018 ENGEN Pitch & Polish winner and receive further cash injections and other prizes.

Congratulations to everyone for attending, for taking action and for being the light that shines on the local entrepreneurial environment.

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Confident Contestants in Cape Town

The ninth annual ENGEN Pitch & Polish programme kicked off in Cape Town on 4 August with the highest number of delegates in attendance so far. Since its inception, this national entrepreneurial workshop and competition – which is hosted in partnership with Engen Petroleum Ltd, Nedbank and Raizcorp – has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.

“It is evident in Cape Town that entrepreneurs have good ideas and here, at ENGEN Pitch & Polish, they are given the skills to package those ideas in order for them to be actualised. For Engen, empowering individuals to realise their dreams contributes to an empowered and employed nation,” commented Kholekile Dlakiya, Transformation Manager at Engen Petroleum Ltd.

The day’s winning formula saw Justin Cohen (best-selling author and international speaker) motivating the crowd about the value of delivering a polished pitch. The workshop aims to teach participants about how to develop a well-rounded and investor-ready pitch. The interactive nature of the event ensures that everyone participates while learning at the same time.

At each of this year’s events five contestants will pitch their businesses while the facilitator and attendees will offer guidance, advice and direction to help shape the pitches.

For example, on Saturday, Craig from Belville set the tone with his very confident pitch. Over the course of the day, his learning focused on how to define his advertising offering in layman’s terms while demonstrating his business acumen by clearly explaining his business model.

For Miyelani from Mitchells Plan, it was all about how to refine and explain exactly what his catering business sells and offers. Operating a business in a specific city or area which addresses a gap in the market can be a viable business model.

Explaining your story can also be a powerful tool and this was successfully incorporated into the pitch by Liesel from Kraaifontein. Navigating the process of buying and renovating her first home spurred the idea to start a business which assists homeowners with the buying process and connects them with relevant suppliers. Online searches can be overwhelming and contradictory making a trusted source invaluable.

The feedback that Nokhuthala from Brackenfell received for her pitch was to state your credentials early on. She learned that communicating upfront that she holds a Master’s Degree in Environmental Management adds weight and authority to her pitch and will garner more consideration for her already sound offering.

Asiphe from Khayelitsha initially focused his pitch on the need for social entrepreneurs but, through the day, he shifted his pitch to concisely explain that he sells healthy biscuits, to talk about what brought him into the industry and to be clear about the financial model. His dedication and enthusiasm were very inspiring.

Investors respond to both what you say and how you say it. Keeping them riveted and asking questions – all while maintaining composure and answering any questions clearly, concisely and with authority – are key tools in the next step to the investing process.

The 2018 winner of the Cape Town leg of ENGEN Pitch & Polish was Craig Kensley, who won R6 000 and a week of training at Raizcorp in Johannesburg worth R150 000. He also has the opportunity to go through to the semi-final to become the ultimate 2018 ENGEN Pitch & Polish winner and receive further cash injections and other prizes.

Congratulations to everyone for attending, for taking action and for being the light that shines on the local entrepreneurial environment.

[pitchandpolish-blog]

Even billionaires need mentors

By Allon Raiz, CEO of Raizcorp

Recently, I watched a series on the History Channel called “The men who built America” and what struck me most was the interconnectedness between industrial giants like Cornelius Vanderbilt, John D Rockefeller, Henry Ford and JP Morgan, who all came from humble beginnings and built enormous business empires. These were the people who built modern America – from the steel and motor industries to the railways and financial services – and they were all linked to one another either as mentors, rivals or clients. Apart from their connections to each other, they also sought counsel from people who they viewed as more successful, or who had more insight, wisdom and more experience than themselves. They had no issues, even as visionaries, with submitting to the wisdom of others.

My mentor is a dollar billionaire. We met when I was 23 years of age and he backed me in my first business – which failed. The second time, he backed me not with money but by surrounding me with people who could support me with advice on finance, marketing, sales and so on. This time, I succeeded because I was surrounded by wisdom, and not because of money.

I thought, surely, my mentor was of such stature that he must be all-knowing when it came to building a business empire. I was shocked and pleasantly surprised to find out that he, too, had a mentor – someone who backed him both financially and with advice on his journey as an emerging giant.

Raizcorp has been modelled on my experience with my mentor. We surround entrepreneurs with people who can give them the right guidance to ensure that they can build long-term, sustainable businesses that can create family wealth for generations to come.

One of the biggest errors in our thinking today is that money is what we need. But it is not money we require; it is wisdom. In fact, money can even be detrimental. I offer the real example of Joe Mkhize (not his real name), who ran a business that did vinyl sign applications on to containers and had contracts with a number of cell phone companies. He employed nine people full-time, generated R400 000 net profit per year, and earned a salary of R60 000 per month. He then received the option of a grant for R1 million and decided to buy a state-of-the-art, wide-format printer to print his own vinyl signage.

Unfortunately, his premises couldn’t house his new printer so he had to find larger, more expensive premises. Also, he didn’t have the ability to operate the printer so he needed additional technical staff. He realised if his technician fell ill or took leave, he would be unable to operate the printer and therefore needed a second technical person for redundancy. The new printer also had to be insured and so on.

The sum of all these additional costs instantly turned a profitable business into an unprofitable business. The additional funding, without the correct advice, derailed a business with huge hope for growth, and it closed down within the year.

A sponsored business-growth at Raizcorp can help you avoid these and other pitfalls, and provide the wisdom and advice you need to make a success of your business. Our business-support platform offers enthusiastic and growth-hungry entrepreneurs learning and guidance that translates into tangible results. After all, even billionaires need mentors …

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WIN R80 000 IN CASH FOR YOUR BIZ!

Running your own business? Want to run your own business? Either way, ENGEN Pitch & Polish is the platform you need to launch you on the path to success!

Now in its ninth year, ENGEN Pitch & Polish is a national entrepreneurial workshop and competition that – so far – has helped around 10 000 entrepreneurs improve the way they pitch their businesses to potential investors. A perfectly polished pitch is key to growing and succeeding in business! Magic always happens when investors hear a well-rounded pitch, as seen at the 2017 final where the winner was offered R2.5 million in potential funding.

This year’s programme is hosted in partnership with Engen Petroleum Ltd, Nedbank, Raizcorp, and media partner, Caxton Local Media, and begins in August 2018 and travels to eight cities and towns across the country. You can register as a delegate to attend the workshop or – if you feel you have what it takes – you can complete an online entry form to be considered as a contestant.

During one exhilarating, exciting and fun free day, participants undergo comprehensive and interactive entrepreneurial training on how to pitch like a pro! The session is facilitated by Justin Cohen, best-selling author, international speaker and TV talk-show host.

After the training session, the pre-selected contestants can pitch their ideas or businesses to the whole audience. This is where things get really interesting, with both the facilitator and the audience providing feedback on how pitches can be improved.

Book now to ensure your place. SMS “Pitch” to 43719 (SMSs charged at 50c) or visit www.pitchandpolish.com to complete an entry form.

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Be calm and courageous

Nhlakanipho Shange comprehended his burning passion for helping people and entrepreneurship while growing up in Umlazi, KwaZulu-Natal. He identified the challenges that neighbouring communities were facing, such as the inaccessibility of health facilities in rural areas and limited health care services in some towns.

With the aim of becoming part of the solution, the free spirited and goal driven lad went on to study medicine at the University of Cape Town (UCT). “As I was studying medicine my mind was opened up to the challenges that my community was facing because I love helping people,” he shares.

“I started enjoying the idea of entrepreneurship back in high school. I was in the science stream but was always proactive and participated in entrepreneurship programmes and competitions. In matric I participated in the Mayibuye Youth and Business competition and the team that I led won, that’s what further sparked the entrepreneurial spirit in me.

I have always had a natural flair for business but you can’t have a natural flair for healing people so that is why studied medicine and thought I could venture into business later. I also love helping people and I honestly wanted to do the most challenging thing in school and that, for me, turned out to be medicine”

In his fourth year of study, he left with the objective of turning his entrepreneurial goals into a reality.

“The first thing I thought of when I was leaving university was that I would do business. I first hoped to open a bakery. While I was flying to Cape Town to do a feasibility study for that business the Taxi TV idea came to me and I thought it would be pretty cool”.

Shange found out about ENGEN Pitch & Polish when he came across a flyer in 2013 and thought it would be advantageous for him to be part of the workshop.

“I entered the competition with the Taxi TV idea and was chosen to be a contestant in Durban and won.  What motivated me to start Taxi TV is that I am community oriented. I thought it would be great to have advertising and provide information for citizens on a TV screen while they ride in a taxi”.

“I did not make it to the finals but I learnt a lot from the competition, I believe that business is my second nature but my knowledge was not yet developed at that time. Pitch & Polish was the platform that refined my business knowledge and thinking. They teach you how to pitch effectively, interrogate your idea and make sure it’s polished and presentable”.

Shange is the founder and CEO of his company called Ad.It Solutions, which provides alternative media/out of home media services like Taxi TV, promotions, social media marketing, activations, mall media, web design and development and graphic design, offering services to renowned organisations such as Raizcorp, SAB Foundation, Invo Tech and NYDA.  He has also come full circle and is now a service provider to the Pitch & Polish programme.

“An entrepreneur needs to have resilience, no matter how many times you are turned down, you need to resist the pressure, press on and keep learning. You need to have a curious mind and a keen attitude for learning. View challenges as an opportunity to learn. You also need to have a thick skin and take criticism in whatever nature or form it comes in”.

Says Shange, “Pitch & Polish is amazing. I would certainly recommend it to anyone who wants to start a business or wants to learn more about entrepreneurship. You just need to know your business well, be calm and courageous”.

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The sky is the limit!

The sky is certainly the limit for health and fitness enthusiast, Billy Siziba. At just 24, Siziba is the founder of his own fitness company called Bullyz Fitness.

The budding entrepreneur who is studying Architecture at the Nelson Mandela University in Port Elizabeth says he always had a burning passion for fitness and healthy living.

“Growing up I was always intrigued by my older cousins who played sport. They were always stronger and fitter than me. That’s when I developed a passion for fitness and exercise”.

Siziba explained that the name Bullyz stands for Breaking Up Limits , Living Your dreams(Z). The company started out only as a clothing brand named Bullyz in 2014 but branched out into fitness, selling locally designed and branded fitness clothing, smoothies, and supplements and also offering nutritional and fitness guides to their clients.

With this project under his belt, Siziba eagerly seeks to educate and rectify the misconception that fitness is only for the purpose of body building. “Africans aren’t clued up about health and fitness. Being health conscious should be a way of life”, he shared.

“I love the lifestyle and it is easy for me to sell my philosophy and personal brand,” he said.

In 2016, Siziba attended the ENGEN Pitch & Polish workshop in Port Elizabeth with the goal of equipping himself with knowledge to become a better businessman. The workshop which is hosted by Engen Petroleum, Nedbank, Raizcorp and media partner, Caxton Local Media, is designed to teach entrepreneurs and aspiring entrepreneurs how to pitch their business or business idea effectively to potential investors.

Siziba was one of the contestants chosen over a hundred others and given the opportunity to pitch his fitness App idea to a panel of judges at the workshop. He fought his way up to the finals which were held in Johannesburg and competed against other equally business - hungry contestants who also had won in their various regions. Siziba came in 3rd but remains extremely excited at the whole experience and states that he has benefitted from attending the workshop.

“The competition was life changing. It opened up my perspective on entrepreneurship and lit a new fire in me.”

“I learnt the importance of financial management in all aspects of my business, how to make a simple idea more financially viable and how to approach different kinds of investment acquisitions. The idea which I pitched for in 2016 hasn’t yet come to life, but my existing business has grown 10 fold. I learnt from the workshop and have made the business more profitable in just 8 months.”

To date, Siziba’s business has grown and has created job opportunities for 4 people.

“We opened our 1st flagship store in Port Elizabeth in February and have turned over R70 000 since starting operation, which is already way more than I was able to do working alone in previous years,” he says.

“Don’t let someone tell you your idea is impossible, go out and find out for yourself” said Siziba.

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Pitch it - and they will come!

Johannesburg, Saturday 9th September 2017 – Approximately 370 entrepreneurs were enthralled as best-selling author and TV talk-show host, Justin Cohen, kicked off the Johannesburg round of the ENGEN Pitch & Polish programme by telling them that “build it – and they will come” is a lie! “The truth,” said Cohen emphatically, “is build it, pitch it, and – maybe - they will come!”

Now in its eighth national tour, the ENGEN Pitch & Polish workshop and competition is designed to teach entrepreneurs the vital art of pitching their business or business idea. This year’s facilitator, Justin Cohen, is a leading expert on the topic of pitching for business. And if the response of the audience, in Johannesburg, is anything to go by, this year’s programme promises to bring even greater learning and guidance than ever before. ENGEN Pitch & Polish is a collaboration between Engen Petroleum, Nedbank, and Raizcorp, and is supported by media partner Caxton Local Media.

Justin’s philosophy of pitching to win was dramatically underscored when he told the audience that big pharmaceutical companies spend more money marketing and pitching life-saving drugs than they do on actually developing the drugs! “Just because you have a product that you think will change the world, does not mean you do not have to find a way to communicate and educate the public,” explained Cohen.  The ENGEN Pitch & Polish workshop is designed to underscore the belief that pitching is not selling; pitching is educating and communicating.

The rapport, created by Justin’s engaging style, set the tone for a safe environment in which contestants could pitch, receive constructive and honest feedback, learn from it, and re-pitch.

Key Pitching Lessons:

Tune in: Are you addressing your customers needs?

Be optimistic: Become a rejection specialist and, when rejected, ask yourself: “How can I make this better?”

Solve problems: Bring value to the world and focus on the customers’ needs.

Cultivate presence: The number one advantage, when pitching your business, is energy and enthusiasm.

Find your purpose: Being an entrepreneur is not a job or a career; it is a calling! Treat it as such.

Be of service: To sell is to give. Entrepreneurs create something wonderful and serve people with it. Pitching is the art of communicating this!

Over 150 applications were received to compete in the 2017 ENGEN Pitch & Polish event in Johannesburg. Four contestants were carefully pre-selected by a panel while a fifth contestant was chosen, on the day, to give the delegates a further opportunity to have their voices heard.

Meet the Johannesburg Contestants:

Noughty Maluleke – Chicken supplier

Nkosinathi Hadebe – Shoe designer and manufacturer

Masego Mohajane – Medical engineering products

Hloniphile Manana – Chocolate-maker in the shape of body parts (business idea)

Lebohang Molapo – Online tutorial platform

Throughout the day, pitches were sharpened and polished – thanks to clear guidance from Justin, combined with inquiring questions from the delegates. By pushing the contestants to improve, learn, define the problem, and present the solution, the inspired delegates were simultaneously applying the principles to their own businesses and ideas!

The programme culminated in the competition segment, where the five contestants could pitch their business or business idea to the judges. The judging panel was made up of Mntu Nduvane from Engen Petroleum, Regina Gounden from Nedbank and Dave Mills from Raizcorp.  This year, the judges’ questions and feedback were explained to all present, and used as a learning platform, with Justin guiding the way. The ENGEN Pitch & Polish programme continues to grow thanks to Engen Petroleum, Nedbank and Raizcorp along with Caxton Local Media.

“The level of skill with the contestants was much better than with usual start-up businesses, so this was very encouraging, as was seeing close to 400 entrepreneurs in attendance,” says Regina Gounden from Nedbank.

The winner of the ENGEN Pitch & Polish Johannesburg event, who proceeds to Round 2, is Masego Mohajane with her medical engineering business.

Congratulations to all for attending - and taking action as this is the secret to building your business!

For more information visit www.pitchandpolish.com.

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It’s not how you do it, it’s how you pitch it!

Rustenburg, Saturday 2nd September 2017 – Almost 300 entrepreneurs were taken on a business pitching journey as ENGEN Pitch & Polish began its eighth national tour. The Rustenburg entrepreneurs have certainly set a high standard for the rest of the country!

This year’s ENGEN Pitch & Polish facilitator is best-selling author and TV talk-show host, Justin Cohen. As Cohen is a leading expert on the topic of pitching for business, the 2017 programme promises to bring even greater learning and guidance than ever before. The programme is in collaboration with Engen Petroleum, Nedbank, and Raizcorp, and is supported by media partner Caxton Local Media.

Justin opened the programme with a highly motivating talk directing the delegates to focus on pitching to win in their field. The rapport, created by Justin’s engaging style, set the tone for a safe environment in which contestants could pitch, receive constructive and honest feedback, learn from it, and re-pitch.

Key Business Lessons:

Having an idea isn’t good enough – you have to take action.

Entrepreneurship is risky.

It is not good enough to be great at what you do; you must be great at pitching what you do.

Pitching is not selling; pitching is educating and communicating.

Business brings value to the world and is centred around the customers’ needs.

Entrepreneurs have an unusually high level of optimism and perseverance.

Research shows that entrepreneurs fail 3.8 times before succeeding – success is determined by getting up and implementing the lessons learned!

Entrepreneurs need to be solutions-focused.

Over 100 applications were received to compete in the 2017 ENGEN Pitch & Polish event in Rustenburg. Four contestants were carefully pre-selected by a panel while a fifth contestant was  chosen, on the day, to give the delegates a further opportuity to have their voices heard.

Meet the Rustenburg Contestants:

1.     Suzan Lethabo – Environmental Consultancy business idea

2.     Kitso Molefe – Educational app

3.     Herman Mosito – Fund tracing agent

4.     Siphokazi Nqeketo – Manufactures products by up-cycling

5.     Abbey Tlapu – Local butchery

Throughout the day, pitches were sharpened and polished – thanks to clear guidance from Justin, combined with inquiring questions from the delegates. By pushing the contestants to improve, learn, define the problem, and present the solution, the inspired delegates were simultaneously applying the principles to their own businesses and ideas!

The programme culminated in the competition segment, where the five contestants were able to pitch their business or business idea to the judges. The judging panel was made up of Benny Thobejane from Engen Petroleum, Clint Emmanuel from Nedbank and Ian Venter from RBED.  For the first time, the judges’ questions and feedback were explained to all present, and used as a learning platform, with Justin guiding the way. The ENGEN Pitch & Polish programme continues to grow thanks to Engen Petroleum, Nedbank and Raizcorp along with local partners Royal Bafokeng Enterprise Development (RBED), Small Enterprise Development Agency (SEDA) and Caxton Local Media.

The winner of the ENGEN Pitch & Polish Rustenburg event, who proceeds to Round 2, is Kitso Molefe.

Congratulations to all for attending - and taking action as this is the secret to building your business!

For more information visit www.pitchandpolish.com.

[pitchandpolish-blog]

Passion, commitment and hard work pays off

Rishav Juglall is one perfect example that passion, commitment and hard work does indeed pay off. The 27 year old businessman who exudes passion for sales and entrepreneurship expressed that he valued the process of building a brand from the ground into something big.

The young entrepreneur who studied Marketing and Economics at the University of KwaZulu-Natal is the founder and Manging Director of a company called Rocky Brands. The company, which was established in 2012, distributes a brand called Wieman, which is a range of cleaning and polishing products for home owners, such as stainless steel, granite and marble polish. The products are sold in renowned retail markets such as Game, Makro, Spar, Pick n Pay, Dion Wired and Hirsch’s in South Africa.

“I chose this business because I spotted a gap in the market. At the time, there was only one premium brand on the market, which had erratic supply and did not do much in terms of marketing themselves. I knew that there was an opportunity for a new player to enter the market place”.

In 2016, Juglall entered the ENGEN Pitch & Polish competition in Durban which is hosted by Engen Petroleum, Nedbank, Raizcorp and media partner, SAfm. The project, which has been running for more than 7 years, is aimed at giving aspiring entrepreneurs an opportunity to pitch their business or businesses idea to potential investors or funders.

Although he did not win the overall competition, Juglall acknowledged that he learnt a great deal from the experience and was able to incorporate the knowledge in his business.

“I heard of ENGEN Pitch & Polish via an email sent through by Nedbank. The experience and knowledge was really valuable. The workshops help you understand your own business so much better; it adds clarity in defining who our target market really is, and whether or not we are reaching them adequately enough. Meeting the other contestants who are on the same entrepreneurial journey as you was fantastic on its own,” he shared.

“I will definitely recommend this programme to fellow entrepreneurs; I can confidently say that you will learn so much more about your business and how to handle situations better.”

“A successful entrepreneur is characterised by hard work, persistence and a hunger for success. Don’t be afraid to take a calculated risk and don’t stop learning,” he advised.

by Nelly Selepe

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So you think you’re in business?  Think again.

You’ve come up with a great business idea - you have a business name, a logo, new business cards and have even registered your company – you’re officially an entrepreneur and you’re excited about the future. Right? Wrong!

An idea is only an idea, until you take action and it becomes a start-up business, which is only a going concern when you have customers buying your products or service – on a regular basis!

When in business, think about:

Proof of concept. When Sizwe Nzima entered the ENGEN Pitch and Polish 2013 competition, his start-up was already servicing 250 clients, by collecting and delivering their chronic medication. His business model was already proving to be a success.

Living in the real world: If you think you are going to be the next big thing overnight, you may be in for a rude awakening. For every big success there are a whole bunch of failures. Focus on what the next step is to achieve a healthy sustainable business. From the beginning, Sizwe encountered a major obstacle – the weather! Delivering packages on bicycles in the rain was becoming inefficient. His immediate solution was to provide good raincoats, while working towards implementing am improved and streamlined system.

The market you are in: Research, research, research. Understand what your competitors are doing. Read about international trends and make sure you are poised to take advantage of tomorrow, not just today.

Your pricing. While start-ups do need to spend some money to make money, it is not always necessary to buy the Rolls Royce solution. The item or service your start-up offers should also be priced correctly to make it affordable for your customers, whilst still profitable enough to grow the business. Research, investigate, scrutinise the numbers.

How your customers can find you: These days, technology is more crucial than ever for future business success. Whether it’s a website, laptop or telephone system, make sure your customers can access your business quickly and easily. Look for marketing opportunities that are relevant and speak to your target market.

Nurturing your successes. Since winning the ENGEN Pitch & Polish competition, Sizwe’s client base has more than doubled. They have also increased the range of products they deliver which is expected to triple their revenue.

Each year Pitch & Polish actively seeks to reach local entrepreneurs, cultivate their skills and polish their presentations – providing them with the tools to be successful and thriving cogs in the economic wheel.

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What’s an idea worth?

How many times have you seen a new product or service causing a buzz in the market and thought to yourself, “Wow, that is such a simple but effective idea – I wish I had thought of that!” The truth is, the best ideas are often the simplest. Yet communicating the idea is where most people get tongue-tied.

So what do you need to do to come up with a winning business idea? Below are a few ways to get your creative juices flowing:

Start close to home: You might have the breeding ground for a great idea right in front of your nose. Criytone Revanewako, winner of ENGEN Pitch & Polish 2012, did just that. Living in Witbank he noticed the volume of industrial waste that was polluting the ground, which ignited an idea of recycling this waste, known as slag, for reconstruction and infrastructure development. His business has since received funding and is on the verge of expanding to four additional sites.

Talk it over. And over again. Rehearse your pitch by talking about your idea to anyone who will listen. Consider their feedback and slowly your idea will start to take shape.

Think about what ticks you off the most! If a product or service gets your goat for one reason or the other, there might be an opportunity for change and innovation. Automation and industrialisation often takes place to improve on clunky or time consuming processes. A great example is the modern razor blade invented by Gillette. He simply got sick and tired of sharpening his old fashioned blade all the time and passionately believed that there had to be an easier way and went on a mission to find it! The rest is history...

Look at what you love. Many successful entrepreneurs have turned their hobbies and passions into a successful business. Criytone, as a metallurgist, is qualified to examine the physical and chemical behavior of metals and alloys. He was able to combine his skills with his idea.

Take a trip. Experiencing new cultures, new cities and new ways of looking at things can be fertile breeding ground for great business ideas.

[pitchandpolish-blog]

Become a Pitch Addict

“First I was afraid; I was petrified” … Gloria Gaynor certainly did not have entrepreneurs in mind when she sang these words, in her classic disco hit “I will survive”. But the opening words of the song could very well describe the feelings of most entrepreneurs when they first begin pitching their business to potential investors and clients. Fear is certainly the order of the day. However, like Gaynor, survival is also the order of the day and entrepreneurs who are unable to master the art of the pitch are unlikely to master the art of survival. In fact, having overcome the fear, and having moved past being petrified, successful entrepreneurs become addicted to pitching. How, one may ask, is it possible to become a pitch-addict?

Like any healthy addiction, such as to exercise, practice makes perfect. One cannot become a ‘pitch-addict’ until one has moved through the fear of pitching. Becoming a pitch addict requires you to actually pitch – often! The mirror is a good place to start, followed by the 3 Fs, friends, family and fools (i.e. anyone who will listen!). And even if the 3Fs in your life do not actually invest, the experience you will have gained in pitching to them, over and over, is immeasurable. It is the first step on the path to addiction. And then it’s time for the real world! Bankers, investors, venture capitalists and, of course, potential clients.

The way you become a pitch addict is simply to breathe deeply and to tell yourself that no matter what feedback you get, you will find a way to use it to your advantage. You tell yourself that you will handle the feedback, no matter how hard it may be to hear. In this way, you build your resilience to handle feedback. It is a virtuous cycle: the more feedback you get, the better you get; the better you get, the more courage you gain to pitch.

The fear never truly goes away. Even the most seasoned pitchers feel fear before they pitch their business. The pitch addicts are simply not letting fear get in the way! The more you say ‘yes’ to every opportunity to pitch, the more likely you are to become a pitch addict.

Suddenly, you will feel your fear turning into excitement. There is a ‘rush’ that accompanies the pitch – it is this rush to which pitch addicts become addicted.

“Just before the final pitch I was so nervous, and once on the stage the immense preparation helped me deliver a polished pitch.” says Murendeni Mafumo, the winner of ENGEN Pitch & Polish 2016, receiving R60 000 on the night. “And once I’m done, and I know that I have faced my fear and conquered it, I am open to whatever feedback comes my way!” he adds. “After winning, I feel grateful for the validation of my dreams.” Murendeni, who lives in Fourways, Johannesburg, won the judges over with his pitch on his existing business, Kusini Water, which uses technology developed to treat water. Murendeni’s love for science was sparked when he received a science set, as a present, when he was very young. As his scientific knowledge grew, so too did his passion to make a positive difference in his community. Today, he ensures that people, specifically in rural areas, have clean drinking water. “I thought I knew about business, but ENGEN Pitch & Polish has given me even more skills to grow my business beyond my wildest dreams!” says Murendeni.

It is important, however, to curb your addiction. A balance between working on your business, and talking about your business is essential. It is also crucial to be a discerning addict. Do your homework first. If there is something to be gained from the pitch, go for it!

[pitchandpolish-blog]

PITCH-A-PHOBIA....and how to overcome it

Imagine this scenario: You’re ready to pitch your well-practised polished business pitch or idea for an innovative business to potential investors and/or partners, but at the moment of delivery, you suffer from acute vocal paralysis. No sounds, only terror – pitch-a-phobia.

Is there a cure? Sure. It’s called ‘systematic desensitisation’ and is based on the principles of behaviour modification, which means that by using basic learning techniques you can change your current conditioning. That’s a win for the pitch-a-phobics.  

As an entrepreneur, it’s particularly important for you to overcome this fear as you are always pitching, in one form or another. Whilst a certain amount of nervousness is healthy, this fear can be debilitating. The only way to overcome ‘pitch-a-phobia’ is by confronting it using a hierarchical system where each level is a small step towards overcoming the fear. “You cannot go from zero to hero in 60 seconds, as you will fail, and the fear will intensify. You have to take small steps, each systematically reducing the fear,’ explains Bronwyn Echardt, Project Manager at business incubator Raizcorp, who herself has used this system to overcome her own paralysing phobia.

Tips to create your hierarchy:

Remove any excuses of why you cannot pitch

Remember you are not trapped nor being targeted, this is part of the     entrepreneurial journey

Evaluate the opportunity costs of not pitching

Practise a relaxation technique that you can utilise just before the     pitch

Begin with your pitch written on cue cards in bullet point form only     – this is to trigger your memory – you are not saying a speech

Pitch into a recorder – listen, tweak and repeat

Pitch to one person who will offer constructive criticism and     feedback – tweak, practise, repeat

Present to a few close and trusted companions and take in their     comments – tweak, practise, repeat

Pitch to work colleagues with a Q&A section – tweak, practise,     repeat

The evidence points to the reality that you are developing a tolerance for pitching and overcoming your fear. This is a gradual desensitisation process – you may even begin to enjoy it…

The big moment arrives: time to present to the panel

It’s a cinch: you’re word-perfect; you are overcoming your fear; you’re ready to enter the ring confidently with your polished pitch. You are aware of your body language, clothing and you know your business intimately and are ready to answer questions on your experience, expertise, the business, how you are going to make money, and how the investors will see a return on their investment.

It’s time to take a deep breath and deliver your polished pitch.

With every pitching opportunity, remember to listen to the feedback, tweak, practise and yes, repeat. Repeat, being the most crucial step to overcoming pitch-a-phobia.

[pitchandpolish-blog]

You Need to Risk Failure in Order to Succeed

"You need to risk failure in order to succeed" is a great article written by Allon Raiz.

In this article, Allon talks about the trappings of success, the fizzling out of hunger and aggression, the paradoxical relationship, and more.

To read the full article, click on the link below:

https://tinyurl.com/hyoksn6

[pitchandpolish-blog]

Certainty in your language

by Allon Raiz

Far too often, I’ve witnessed entrepreneurs make terrible mistakes when pitching to potential funders. This is the seventh pitching tip in a series of pitching tips that you as an entrepreneur need to implement in order to improve your business pitch to potential funders, as well as some of the pitfalls you should avoid.

The Seventh Pitching Tip:  Certainty in your language

The seventh pitching tip is one that many entrepreneurs are unaware of, and it is often the deal breaker that makes or breaks their pitch to potential investors.

Despite what you may think, when you pitch your idea to an investor, they are not only listening to the content of the information that you are presenting to them, but they are also listening very carefully to how you utter each and every word. They are listening as attentively to you as a judge would to a student at an eisteddfod, because you are asking them to invest their hard-earned money into your business.

Investors are interested in investing in businesses that will provide them with the highest return, at the lowest possible risk, and are ultimately looking for a sure thing. The tone you employ when you present the information you have prepared for your pitch, will help build the investors’ confidence in your idea, as well as in your teams’ ability to execute your idea, and the future of your business. These aspects are all important considerations which form part of the very complicated decision to invest in you or not. If tone is used incorrectly in your pitch, it will shatter any confidence the investors may initially have had in you.

The deal breaker

While standing in front of an investor, any subliminal clues that you are not 100% focussed or deeply certain about the information you are presenting, will most often be a deal breaker.

In my experience, when potential investees use words such as “around about”, “approximately”, “perhaps”, “maybe”, “could be”, “might be”, “I hope”, “we think”, and worst of all “I pray”, the investor will immediately become nervous and lose all confidence in the entrepreneur.

If you are asked the following question during your pitch, “How many units are you expecting to sell in your first year?”, the wrong answer would be “We hope to sell 5 000 units”. The right answer would be, “We have done our research, and it indicates that the market would purchase between 7 000 and 10 000 units, but we have used a more conservative 5 000 units in our calculation.”

When you are asked, “What is the cost of a single unit?”, the wrong answer would be “It’s approximately R2 000”, and the right answer would be, “At quantities of 1 000 to 5 000, the cost of a single unit would be R2437. At quantities of 5000 to 10000, the cost of a single unit would be R1742. When doing our calculations, we used the lower volume pricing.”

Be precise

Being precise and conservative during your pitch in order to reduce ambivalence and have a clear message, are key to building a potential investor’s confidence in your business. When you prepare your pitch, make sure you have a strong relationship with numbers and predictions because when you demonstrate that you have thought about all aspects relating to your business, such as competitors, target market etc., investors will feel confident that you have a thorough understanding of the information and have put a great deal of thought into how the numbers are being used in your calculations

When you answer a question and you say “approximately” or “around”, it immediately shows that you don’t know your costs or are unsure of them or aren’t interested in them. No investor expects you to be able to predict the future with 100% accuracy, but they would like to see you exhibit thought and precision around how you have calculated your numbers and how you present them.

When writing out your next pitch to investors, be cognisant of the words you are using and practice your speech in front of a friend or family member who can give you feedback on your tone so that you sound confident rather than laid back or aggressive. Make sure you present your calculations in a logical manner so that investors are able to follow your thought process as to how you worked your numbers out, and how you reached your conclusions.

About Raizcorp:

Raizcorp is Africa’s only unfunded for-profit business incubator model, which provides full service enterprise and supplier development programmes that guide entrepreneurs to profitability. Raizcorp has created “Prosperation™” – its own unique, world-renowned model of business incubation. Founded in 2000, Raizcorp has become Africa’s premier business incubator model. For more information, visit www.raizcorp.com.

About Allon Raiz:

Allon Raiz is the CEO of Raizcorp. In 2008, Raiz was selected as a Young Global Leader by the World Economic Forum, and in 2011 he was appointed for the first time as a member of the Global Agenda Council on Fostering Entrepreneurship. Following a series of entrepreneurship master classes delivered at Oxford University in 2014 and 2015, Raiz has been recognised as the Entrepreneur-in-Residence at the University of Oxford’s Saïd Business School. Follow Allon on Twitter: www.twitter.com/allonraiz.

[pitchandpolish-blog]

Research the “flavour” and the stage

by Allon Raiz

Far too often, I’ve witnessed entrepreneurs make terrible mistakes when pitching to potential funders. This is the sixth pitching tip in a series of pitching tips that you as an entrepreneur need to implement in order to improve your business pitch to potential funders, as well as some of the pitfalls you should avoid.

The Sixth Pitching Tip:  Research the “flavour” and the stage

The saying that “all money has the same smell” is often used to describe the fact that it doesn’t matter whether money comes from source A or source B, because at the end of the day it has the same value. Nothing could be further from the truth when you as an entrepreneur are looking for an investor.

I can’t emphasise enough the importance of doing adequate research before searching for and approaching investors for your business. This is the sixth pitching tip which involves doing your homework on the following two key areas before presenting your pitch.

1.              Identify their ‘flavour’

Take a look at the range of investors that are possible funders for your business. My experience is that there are, like in any industry, niched offerings when it comes to financing. Investors generally come with preferences, and their preferences generally relate to their expertise and experience in a particular industry.

There are investors that for example specialise in technology, agricultural processing or financial services, and they look for, engage with, and only fund businesses that fall within the ambit of their focus area.

Too often I see young entrepreneurs wasting copious amounts of precious time compiling and sending prospectus after prospectus to investors who would have absolutely no interest in their type of business, based solely on the fact that they don’t fund a particular industry.

So it is incumbent for you the entrepreneur, to do adequate research on investors and their particular “flavours” before approaching them – this will save you a lot of time and effort when you are more targeted in your approach.

2.              Identify the type of funding you require

Asses the type of financing you require for the stage at which your business is currently at. The type of funding that a start-up venture – which is little more than a sketch on a piece of paper, some nerves and a smile – requires, is very different to that of a more mature business which is working on  expanding into new territories.

Start-up ventures come with higher degrees of uncertainty and risk, and mature operating businesses come with history, a proven team, and an opportunity to scale something that already exists. In my experience, these two stages constitute different types of funders who specialise in the distinct parts of the life cycle of a business.

Investors who are more prone to risk, demand a higher return and will synergise more with a younger business. When it comes to more mature businesses, investors prefer to be more hands off and are more concerned about the fundamentals.

Once you’ve done the abovementioned research, identify the type of funder who specialises in your industry, and prefers to work with businesses at the same stage in the life cycle as yours. If you for example are in the ICT industry and your business is still in the start-up phase, don’t approach a funder who prefers investing in mature businesses in the finance industry. Rather look for a funder who is interested in investing in start-ups, in the ICT industry.

The Internet offers a wealth of information, and you can very often find out a lot about potential investors by reading interviews they have done, or researching the types of businesses they have invested in. Look at the businesses they have invested in as this will give you a sense of deal sizes, the stages in the life cycle of business, and the industries they prefer to fund.

Most investors are very specific regarding the industries they do or don’t want to work in, as well as the stage the businesses are in. Before you send off your next prospectus to an investor, make sure you have done adequate research to ensure that you meet their flavour and stage – this will give you a higher probability of success.

About Raizcorp:

Raizcorp is Africa’s only unfunded for-profit business incubator model, which provides full service enterprise and supplier development programmes that guide entrepreneurs to profitability. Raizcorp has created “Prosperation™” – its own unique, world-renowned model of business incubation. Founded in 2000, Raizcorp has become Africa’s premier business incubator model. For more information, visit www.raizcorp.com.

About Allon Raiz:

Allon Raiz is the CEO of Raizcorp. In 2008, Raiz was selected as a Young Global Leader by the World Economic Forum, and in 2011 he was appointed for the first time as a member of the Global Agenda Council on Fostering Entrepreneurship. Following a series of entrepreneurship master classes delivered at Oxford University in 2014 and 2015, Raiz has been recognised as the Entrepreneur-in-Residence at the University of Oxford’s Saïd Business School. Follow Allon on Twitter: www.twitter.com/allonraiz.